Milan: MPS Bank in turmoil
(Teleborsa) - Monte Paschi has a turbulent session, losing -4.2% on previous levels.Bank of Siena is trending in accord with the FTSE MIB, which makes the security a low alpha asset, that does not yield returns above and beyond its benchmark index.
Banca Monte Paschi's medium-term scenario corroborates its negative trend. However, an analysis of the short-term chart gives a first indication that the bears are on the way out, with the share price rising towards first resistance in the 4.546 area. Support is at 4.36. Further positive moves would support the case for a new high in the 4.732 area.
These analyses are to be considered solely for information purposes and are not in any way intended to constitute financial advice, a solicitation of funds from the public or the promotion of any form of investment.
(Teleborsa Research Department)
(Teleborsa) 06-21-2024 12:30 PM